Summary
Samenvatting strategic Management
- Course
- Institution
Summary of Strategic Management lessons
[Show more]
Seller
Follow
MarieVincke
Reviews received
Content preview
STRATEGIC MANAGEMENTINHOUD
C1. Introduction Strategy ........................................................................................................................................ 6
Strategy ............................................................................................................................................................... 6
Case: Netflix .................................................................................................................................................... 6
The quest for competitive advantage ............................................................................................................. 6
The Honda case ............................................................................................................................................... 7
Business = Value creation ................................................................................................................................... 8
What is strategy about? ...................................................................................................................................... 9
Is our strategy likely to be successful? ............................................................................................................ 9
Definition of a strategy ................................................................................................................................... 9
The basic framework - Michael Porter .......................................................................................................... 10
Business............................................................................................................................................................. 11
Layers of leadership influence ...................................................................................................................... 11
How to create value in financial terms ......................................................................................................... 12
C2. External analysis: understanding the industry ................................................................................................ 14
Purpose (why) and strategy .............................................................................................................................. 14
Purpose need to be embedded in strategy ................................................................................................... 15
Strategy making ................................................................................................................................................ 16
Who is involved in strategy making .............................................................................................................. 16
Describing strategy: current positioning, Future direction ........................................................................... 17
Industry evolution ......................................................................................................................................... 18
Management = leadership? .............................................................................................................................. 19
Strategic leadership....................................................................................................................................... 19
C3. An industry or external analysis ...................................................................................................................... 21
The components of an organisation’s macro environment .............................................................................. 21
Identifying key success factors ...................................................................................................................... 21
Attractiveness of industries .............................................................................................................................. 21
Industry attractiveness & differences ........................................................................................................... 22
Analyzing the industry: 5 forces of Michael porter ........................................................................................... 23
5 forces of Michael Porter ............................................................................................................................. 24
Pest(le) analysis of industry .............................................................................................................................. 24
Pestle combines with 5 forces of Porter ....................................................................................................... 25
Does industry matter? ...................................................................................................................................... 25
The Most Common Drivers of Industry Change ............................................................................................ 25
1
, Financial perspective ..................................................................................................................................... 25
GUCCI case ............................................................................................................................................................ 27
Gucci Strategy ............................................................................................................................................... 27
Conferring identity ........................................................................................................................................ 28
Ryanair case ...................................................................................................................................................... 28
Ryanair’s activity system ............................................................................................................................... 28
Value for 2 airlines ........................................................................................................................................ 29
Ecosystems changing the strategic landscape .............................................................................................. 30
Importance of artificial intelligence as complementary force to human capital .......................................... 30
C3. Internal analysis & competitive advantage ..................................................................................................... 32
The impact of resources & capabilities in firms ................................................................................................ 32
Resources and capabilities ............................................................................................................................ 32
The interface between strategy and the firm ............................................................................................... 32
The resource base ......................................................................................................................................... 32
Some strategic tools .......................................................................................................................................... 33
SWOT-analysis ............................................................................................................................................... 33
Use your distinctive capabilities wisely ............................................................................................................. 36
Strategizing distinctive capabilities ................................................................................................................... 36
C4. Competitive advantage through positioning .................................................................................................. 38
Positioning adopting to existing structure ........................................................................................................ 38
The product offering – exam ......................................................................................................................... 38
Competitive Advantage based on 3 value disciplines ................................................................................... 39
Competitive Advantage through Positioning ................................................................................................ 39
Competitive Strategy as Positioning - Generic Competitive Strategies ........................................................ 39
Gaining competitive advantage ........................................................................................................................ 42
Overview strategies – competitive advantage .............................................................................................. 42
Preliminary strategic options ........................................................................................................................ 42
Creating a competitive advantage ................................................................................................................ 43
Segmentation ................................................................................................................................................ 44
Cases on positioning ......................................................................................................................................... 46
Victoria Secret (exam question) .................................................................................................................... 46
Zara ............................................................................................................................................................... 47
Renova .......................................................................................................................................................... 49
Reinterprenting “positioning”: addressing the supply and demand ................................................................. 49
Competitive advantage and a good strategy ................................................................................................ 49
Zipcar ............................................................................................................................................................. 50
Tailored value chain creating customer value .............................................................................................. 50
2
, Case of linking VP and VC .................................................................................................................................. 52
IKEA – Exam ................................................................................................................................................... 52
C5. Blue Ocean strategy & non-disruptive innovation -> creating a new demand ............................................... 55
Positioning......................................................................................................................................................... 55
Reconstructionist perspective ........................................................................................................................... 55
Value innovation and Blue Ocean Strategy ................................................................................................... 55
Body shop - Reconstructionist approach of Blue Ocean Strategy ................................................................. 56
Case NetJets .................................................................................................................................................. 57
Four grid framework for blue ocean ............................................................................................................. 57
Major difference – exam ............................................................................................................................... 57
Case: Cirque du soleil .................................................................................................................................... 58
Case Yellow tail - Value innovation in the US wine industry ......................................................................... 59
Case Zwift – exam ............................................................................................................................................. 61
Non-disruptive strategic innovation ................................................................................................................. 61
Non-Disruptive Strategic Innovation ............................................................................................................. 61
Market creation ............................................................................................................................................ 63
C6. The importance of Innovation to sustain competitive advantage .................................................................. 64
Growth driven by innovation ............................................................................................................................ 64
Case IBM (exam) ............................................................................................................................................... 65
The IBM Emerging Business Opportunities Model ....................................................................................... 65
IBM’s EBO as % of total IBM revenue ........................................................................................................... 65
The importance of strategic innovation ............................................................................................................ 66
Offensive or defensive strategic moves ........................................................................................................ 66
Case eReader................................................................................................................................................. 67
Strategic innovation: what, why; where, who & how ....................................................................................... 67
Timing innovation: to lead or to follow? ....................................................................................................... 68
(Digital) innovation ............................................................................................................................................ 68
Technologies that today change our lives ..................................................................................................... 68
Business model innovation ........................................................................................................................... 69
Disruptive innovation ........................................................................................................................................ 70
A job to be done (exam) ................................................................................................................................ 70
Niche oriented products – services / Job to be done.................................................................................... 71
The advantage of big data ................................................................................................................................. 71
Digital innovation .......................................................................................................................................... 71
Artificial intelligence based on the use of Big Data ........................................................................................... 71
What kind of AI ............................................................................................................................................. 72
Where do computers beat us ....................................................................................................................... 73
3
, AI talent expertise ......................................................................................................................................... 74
2 different realities ........................................................................................................................................ 75
The bad & the ugly of AI .................................................................................................................................... 76
The Bad of AI - Ethical challenges & Risks of AI & Digitization/Deep Learning ............................................. 76
A new logic of competition ............................................................................................................................... 77
The changed reality and new logic of competition ....................................................................................... 77
Principles rather than Procedures are what matter ..................................................................................... 77
Netflix Case (exam) ........................................................................................................................................... 79
Culture at Netflix: radical transparent and talent density ............................................................................ 79
An algorithmic company ............................................................................................................................... 79
c7: A global strategy for international expansion ................................................................................................. 82
Harnessing the best of globalization ................................................................................................................. 82
Operating beyond national borders .............................................................................................................. 82
Case Microsoft .............................................................................................................................................. 85
Competing Internationally: The Three Main Strategic Approaches .............................................................. 86
C8. The corporate strategy in a diversified multi-business organization .............................................................. 88
M&A, Strategic Alliances, Vertical/Horizontal Integration................................................................................ 88
Scope of opterations (exam) ......................................................................................................................... 88
HORIZONTAL M&A STRATEGIES .................................................................................................................... 88
STRATEGIC ALLIANCES & PARTNERSHIPS ...................................................................................................... 89
Creating value in a diversified firm ................................................................................................................... 89
An Economic Interpretation of Corporate Strategy: creating value in a multi-business firms ..................... 89
Six ways to create synergy ............................................................................................................................ 91
Corporate Composition ................................................................................................................................. 92
Scope ............................................................................................................................................................. 93
Vertical integration ....................................................................................................................................... 95
Diversification ............................................................................................................................................... 97
T9: Making a strategy work: Governance, Ethics & Sustainability ........................................................................ 98
Strategy and sustainability .............................................................................................................................. 100
Social responsibility Nike & slavery ............................................................................................................. 100
Shareholder versus Stakeholder theory .......................................................................................................... 101
Corporate Citizenship & Stewardship ............................................................................................................. 103
Corporate Social Responsibility? (CSR) ........................................................................................................... 104
The triple bottom line + ESG ....................................................................................................................... 104
ESG (exam) .................................................................................................................................................. 105
Additional question: notion of double materiality ...................................................................................... 106
Does doing good helps CEO’s as well? ........................................................................................................ 106
4
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller MarieVincke. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $6.45. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
67096 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now